Traders Expecting USDA Reports to Move Corn and Soybean Crop Yields and Stocks Higher- Wheat Stocks Perhaps a Little Smaller  

Traders are awaiting the release of the latest USDA Crop Production and World Agriculture Supply-and-Demand Estimates. The report will be released at 11 a.m. Oklahoma time. It will be the first report in 60 days due to the federal government shutdown last month.

The USDA in Friday's reports is expected to increase its forecasts for corn and soybean production, yield and stockpiles while cutting its outlook for harvested acres, according to analysts surveyed by The Wall Street Journal. Wheat stockpiles are forecast to be lower than expected in September by analysts.

Justin Lewis with KIS Futures in Oklahoma City says the report will definitely be the market driver and anticipates a fair amount of volatility leading up to the release of the numbers this morning.

"If you look at what the estimates are on USDA corn production and soybean production, corn--we're looking for just over 14 billion bushels with a yield of 158.9 and harvested acres a number of 88.09 million acres. Soybeans--3.221 billion bushels produced total. That's a yield of 42.4 and a harvested acres number of just under 76 million acres.

"The big thing is we've increase the yield here for corn and soybeans both; about a bushel and a half in the soybeans and about 3 ½ bushels on corn. Both of those are negative factors."

We will be reviewing the numbers shortly after 11 AM on our website- OklahomaFarmReport.Com and will offer some analysis as the afternoon wears on from both Tom Leffler and Justin Lewis- again to be found on our website.

Besides the national numbers- we will be recapping the state numbers of the spring planted crops in Oklahoma- all of which are likely to be a good bit higher than the crops of one year ago. 

The canola crop across Oklahoma is emerged and looking good.  In this week's preview of Saturday's SUNUP program, Oklahoma State University Grain Marketing Specialist Kim Anderson says prices are looking good as well. 

Anderson also says wheat across the state is in good shape with producers now turning cattle out on wheat pasture.   He said producers can begin keeping an eye on prices for next year's crop.  

"The forward contract price for wheat is somewhere around $6.70. You can watch the Kansas City Board of Trade July 14th contracts, subtract about a 40-cent basis off of that and that will get you your forward contract estimate for next year.

He said wheat prices for next spring's crop are holding steady at this point and now might be a good time to forward contract a small portion of next year's crop.

"I think they're probably going to move sideways in here.  The harvest price is slightly above the five-year average.  Some producers may want to take maybe ten percent of their expected production and lock some of that in." 

Click here to listen to Kim Anderson's preview of this week's SUNUP and to find a rundown of the show.

Governor's Food Drive Exceeds Goal

Governor Mary Fallin's fourth annual Feeding Oklahoma Food Drive raised more than 2.9 million meals for hungry Oklahomans this holiday season. The drive, which ran throughout October, exceeded its goal of raising 1.4 million meals. In total, the drive raised $390,659 and 1,179,087 pounds of food. A portion of the donations will also benefit Oklahomans impacted by the May tornadoes.

"I am continually overwhelmed by the support and generosity shown by Oklahomans in all 77 counties, and this year's food drive proves to be no different," Fallin said. "I want to especially thank all the sponsors and the caring people of this state who donated their time and resources to help feed our neighbors in Oklahoma. Oklahoma is a great place because of its people. Their support of this food drive ensures more Oklahoma families will have a better holiday season."

The Feeding Oklahoma Food Drive benefited the Regional Food Bank of Oklahoma, the Community Food Bank of Eastern Oklahoma and their partner agencies across Oklahoma. Over the last four years, more than 2,578,293 pounds of food and $1,139,571 has been raised through the Feeding Oklahoma Food Drive, which has provided more than 7.8 million meals for hungry Oklahomans.

Click here to read more.  

 

U.S. Red Meat Industry Looks East for Future Growth

A good number of those in the beef industry are looking toward the East these days-the Far East. At the United States Meat Export Federation's strategic planning conference in Fort Worth, USMEF Senior Vice President Asia-Pacific Joel Haggard said the Asian market is definitely where the action is.

He spoke with me recently and said that the Asian market has proven an amazing market for U.S. red meat exporters and is poised for further massive increases in demand. He said the reason for increased sales is simple.

"They're just importing more beef and they're importing beef that's more expensive than it was a couple of years ago."

Haggard said the recent growth in the value of the Asian market has been nothing short of exponential.

"I took the value of all the beef imported by the major and even the smaller Asian countries, I added it up and did the same for last year and it looks like this year is going to be, maybe, in the range of $12 billion of total beef imports-not all just from the United States-whereas last year it was $9 billion. They're basically spending $3 billion more on beef imports this year. And then that would have been double from just a few years ago."

You can listen to our conversation or read more of this story by clicking here.

 

Fall Board Meetings for Wheat Industry Groups Address Biotech and Trade Issues 

The grower-leaders of the National Association of Wheat Growers and U.S. Wheat Associates met this week in Portland, Ore., for their annual fall business meetings, reviewing a wide range of financial and policy topics.  

The NAWG Board accepted several resolutions from its committees and the two standing joint committees with USW that focus on biotechnology and trade policies. Two new resolutions restated existing policy outlined in the NAWG/USW Biotechnology Position Statement, on biotech food labeling and threshold levels for adventitious presence. Wholly new resolutions expressed support for an ongoing trade negotiation with the European Union; on tariff rate quota utilization for World Trade Organization member countries; and supporting trade promotion authority (TPA).  

The NAWG Board also accepted the organization's annual audit, a revised budget and a revised industry partners program, and it encouraged increased support for the Wheat Innovation Alliance.

 

Rains Offer Spotty Improvement in Drought Conditions

The newest drought monitor map reflects changes due to the last couple of rain events, and the lack of rain events, in differing parts of the state, says Associate State Climatologist Gary McManus.

The biggest news on the map is the expansion of D4-Exceptional drought into Harmon County in far southwestern Oklahoma. That area has seen its driest last three years on record, and recent rains haven't helped much.

Statewide, the average since January 1 is 33.8 inches, about 1.4 inches above normal. Of course, McManus said, that's a bit better than the Panhandle and southwest, and a bit (or a lot) worse than places like central Oklahoma, where it's been crazy-wet.

Click here to see the maps and read more from Gary McManus.

 

This N That- OSU Winter Crop School Slated Dec. 10-11, Clay Pope In the Field and a FLICKR Reminder 

Oklahoma certified crop advisors, agricultural retailers, Oklahoma State University Cooperative Extension professionals and others with an interest in agriculture are invited to take part in the OSU Winter Crop School.

Slated Dec. 10-11 at the Wes Watkins Center on the OSU campus in Stillwater, the Winter Crop School is designed to provide updates to crop advisors regarding current research and recent advances in agronomy, said Jeff Edwards, OSU Cooperative Extension small grains specialist.

"The objective of the school is to provide participants with knowledge and tools they can implement on Oklahoma farms," Edwards said. "The content will be a bit more technical than what they may receive in a typical Extension meeting. As an added bonus, there will be 12 hours of Certified Crop Advisor continuing education credits offered."

Click here for more information and registration links for the Winter Crop School.

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Our guest for this weekend "In the Field" on KWTV News9 will be Clay Pope of the Oklahoma Association of Conservation Districts- talking conservation and farm bill as well as a longer view of why voluntary conservation programs are some of the best tools we have in being sustainable down on the farm and ranch.   

Our segment airs around 6:40 AM and we will post a video of it on our website later in the weekend if you miss the Saturday morning segment during the KWTV Saturday morning news block.

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We have received some great feedback on our coverage of the Oklahoma FFA in Louisville during the 2013 National FFA Convention. We have a story or two still to post- and they will be added to the lineup of great stories already in the Blue Green Gazette section of our website- click here to jump there.

I also wanted to remind you and give you the link to our set of pictures several members of the State Officer team as well as yours truly took while in Louisville.  There are a total of 3655 photos up on our Flickr set from the 2013 FFA Convention- and you can click here to go and browse through at your convenience.  

We also wanted to thank one more time our sponsors of our 2013 coverage- the Oklahoma FFA Alumni Association and the Oklahoma FFA Association- they are both big believers in what the organization does when it comes to leadership and character development of the young men and ladies that wear those Blue and Gold jackets.